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Kohler Corporation reports the following components of stockholders equity on December 31, 2016 Common stock-$25 par value, 100,000 shares authorized $1,375,000 80,000 430,000 $1,885,000 55,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity In year 2017, the following transactions affected its stockholders' equity accounts. Jan. 1 Purchased 6,000 shares of its own stock at $20 cash per share Jan. 5 Directors declared a $2 per share cash dividend payable on February 28 to the February 5 stockholders of record Feb. 28 Paid the dividend declared on January 5 July 6 Sold 2,250 of its treasury shares at $24 cash per share Aug 22 Sold 3,750 of its treasury shares at $17 cash per share Sept 5 Directors decdlared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record Oct. 28 Paid the dividend declared on September 5 bec 31 Closed the $388000 credit balance (from net incomie) in the Income Summary account to Retained Eamings Required 1. Prepare jounal entries to record each of these transactions for 2017 2. Prepare a statement of retained earnings for the year ended December 31, 2017 3. Prepare the stockholders' equity section of the company's balance sheet as of December 31, 2017 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare journal entries to record each of these transactions for 2017. View transaction list Journal entry worksheet 4 6 8 O Type here to search